Kazakhmys to replace the head of Board

/REUTERS, Almaty, August 11, 06/ - Council of directors of Kazakhstan copper monopolist Kazakhmys intends to appoint on the position of a new Chairman of Board Eduard Ogay in the place of Ruslan Yun, the press release of the company says. Shares of Kazakhmys entered into index FTSE 100 of London stock exchange. "Appointment of the candidature will take place at the end of August, 2006," - the message informs. The representative of the company could not explain the reasons of replacement in the employees. Graduator of the mining university Mr. Ogay has taken different leading positions for the last five years, consisting of the corporation and now he is a director of Kazakhmys Plc for corporate development. The biggest shareholders of the company Kazakhmys are President Vladimir Kim, who entered into list of multi-millionaires according to Forbes with ownership at $2.7 bn., and also General manager Yung Kyu Cha and Financial director Oleg Novachuk. Last year Kazakhmys borrowed $1.2 bn., having offered 25% shares on London stock exchange. [2006-08-11]